I DONT want to Sell 😭😭

Gaboo414

Earning My Ears
Joined
Jul 21, 2019
Please everyone bare with me. I have a small direct 50 pt contract purchased before all the restrictions. Currently we are in a really tight financial position and I thought selling would be our only way out. The thing is I dont want to sell it. Especially with all these new restrictions coming into place. What other things can I do in instead of selling. Yes, we financed. Currently owe around 5k. Please any input is greatly appreciated
 
  • Chuck S

    DVC Co-Moderator
    Moderator
    Joined
    Feb 6, 2000
    If you have points you can use, rent them or transfer them to another member. At $5k owed and 50 points, you owe roughly $100 per point. You sure won't get any new direct points for that in the future. But it boils down to...if you have to sell, you have to sell. No one knows what the future will bring, no one buys anticipating having to sell. Good luck to you.
     

    Mickey of the Villages

    Can't have nice things
    Joined
    May 6, 2019
    This may be an unpopular opinion but don't worry about the restrictions - sell the points if you need the money and deal with the restrictions later if you need to. It's not worth the anxiety. If you are in a bind financially don't worry about going to WDW for a year or two. When things are where they need to be to get back into this buy DVC then.
     

    Matty B13

    DIS Veteran
    Joined
    Jun 13, 2016
    Also, which resort are the points in the contract? If it is one of the high resale value ones, you could turn a slight profit, but it depends on how quickly you have to flip your contract.

    But I would recommend renting the points out, and see if you can make that work, if not you can sell your stripped contract for a little less.
     

    Sandisw

    Moderator
    Moderator
    Joined
    Nov 15, 2008
    Also, which resort are the points in the contract? If it is one of the high resale value ones, you could turn a slight profit, but it depends on how quickly you have to flip your contract.

    But I would recommend renting the points out, and see if you can make that work, if not you can sell your stripped contract for a little less.
    Just a reminder, we do not allow people to post specifics like resorts, etc. as it could be construed as a "For Sale". Thank you to the OP for not including that information in the original post!

    In terms of the situation, I would simply try to transfer the points to another member each UY if I could...even if I had to offer for less than market value to get someone to take them. It would cover your MF's for the year, and give you some money to put toward your loan. Easier than having to rent. As long as the points are not banked/borrowed, this could be a short term solution so you don't have to sell right away.
     

    Great3

    Mouseketeer
    Joined
    Jan 20, 2015
    It sounds like you don't have to time to do the rental yourself. Since I chatted with you before, and I know what you personally own, I will say your points will rent out fairly easy, within a week or less probably. If you don't have the time, I suggest you use a broker like David's Vacation Rental who I believe is a sponsor of this board (https://dvcrequest.com/). You will have at least the MF dues in a short period of time, that at least will help keep the DVC ownership from becoming a burden during financial distress. At only 50 points available to sell, and if you calculate selling at the low end of $100 a point, that's $5K before sales commission (meaning you need to bring money to the table to close since you still owe about 5K). At the middle range of $150 a point, you are talking $7K.5 before sales commissions and other fees, meaning selling will only help you out less than $2K towards the current financial situation, which I don't know will make a big difference for you or not.

    So all in all, if you can swing it, just put it up for rental with a broker. I personally haven't used David's, so everything is from the good reviews I read, I don't have personal experience. Hope that helps, and I hope things get better soon for you and your family.

    Great3
     
    Last edited:

    Gaboo414

    Earning My Ears
    Joined
    Jul 21, 2019
    It sounds like you don't have to time to do the rental yourself. Since I chatted with you before, and I know what you personally own, I will say your points will rent out fairly easy, within a week or less probably. If you don't have the time, I suggest you use a broker like David's Vacation Rental who I believe is a sponsor of this board (https://dvcrequest.com/). You will have at least the MF dues in a short period of time, that at least will help keep the DVC ownership from becoming a burden during financial distress. At only 50 points available to sell, and if calculate selling at the low end of $100 a point, that's $5K before sales commission (meaning you need to bring money to the table to close since you still owe about 5K). At the middle range of $150 a point, you are talking $7K.5 before sales commissions and other fees, meaning selling will only help you out less than $2K towards the current financial situation, which I don't know will make a big difference for you or not.

    So all in all, if you can swing it, just put it up for rental with a broker. Hope that helps, and I hope things get better soon for you and your family.

    Great3
    You always seem to have excellent advice friend. Thank you so much. And as a matter of fact we really wouldn't be gaining much from selling. Mostly it would be letting go of the contract itself. But I am sooo hesitant on letting it go. I think like everyone else mentioned, renting would be our best bet.
     

    Brian Noble

    Gratefully in Recovery
    Joined
    Mar 23, 2004
    You don't want to sell, and I understand that. But I think you realize that it is a good idea. Think about what you need to do *right now*, not what some (unknown) future is going to look like, or even what past decisions got you here. That's because what you do *right now* is the only thing that really matters. You can take care of later when the time comes.
     

    HPLA

    Earning My Ears
    Joined
    Sep 15, 2011
    You can also transfer your points at $16-17 each point. There's no hassle of renting. You cannot transfer any banked or borrowed points, but I'm sure many people would jump at a transfer!
     

    The Jackal

    DIS Veteran
    Joined
    Oct 24, 2017
    Like others have stated you can rent the this years points and even next years points. But if you have to sell, the perks don’t really matter a lot on a small contract like that, your probably not getting a annual pass. The Epcot lounge is nothing special, especially since they got rid of the gummy bears. Soon they will just be offering water. It seems the more they charge per point the less you get at the lounge.
     

    Lumpy1106

    Mouseketeer
    Joined
    Jul 2, 2010
    It sounds like you don't have to time to do the rental yourself. Since I chatted with you before, and I know what you personally own, I will say your points will rent out fairly easy, within a week or less probably. If you don't have the time, I suggest you use a broker like David's Vacation Rental who I believe is a sponsor of this board (https://dvcrequest.com/). You will have at least the MF dues in a short period of time, that at least will help keep the DVC ownership from becoming a burden during financial distress. At only 50 points available to sell, and if you calculate selling at the low end of $100 a point, that's $5K before sales commission (meaning you need to bring money to the table to close since you still owe about 5K). At the middle range of $150 a point, you are talking $7K.5 before sales commissions and other fees, meaning selling will only help you out less than $2K towards the current financial situation, which I don't know will make a big difference for you or not.

    So all in all, if you can swing it, just put it up for rental with a broker. I personally haven't used David's, so everything is from the good reviews I read, I don't have personal experience. Hope that helps, and I hope things get better soon for you and your family.

    Great3
    ^ THIS!
    You need positive cash flow. In your case selling would be the opposite of this. Renting out your points will net you about that you would be paying in MF's. Keep the $5k debt for now, but zero that out (and any other debt) as soon as you are back in a good situation financially. <SOAPBOX>A lot of people think taking out a load to buy a car or a house or worse, credit card purchases is the way to strength financially. In fact, it is the opposite. </SOAPBOX>
     

    bumbershoot

    DIS Veteran
    Joined
    Mar 5, 2007
    But if you have to sell, the perks don’t really matter a lot on a small contract like that, your probably not getting a annual pass.
    Some Dvc owners do stay at other places while in Orlando...


    You need positive cash flow. In your case selling would be the opposite of this.
    Agreed. Being in a bind doesn’t give a person 5K to pay in a lump sum.


    I’d think further along. It’s a bind now, but will it be the same in a year or so?
     

    Maistre Gracey

    DIS Veteran
    Joined
    Apr 23, 2002
    You currently owe $5k on financing plus your mtc fees.
    You financed 50 points and are in over your head.

    I do feel badly for you, but you probably made a financial mistake purchasing in the first place.
    If things are now, and were before, this tight financially I would recommend selling.
    You simply cannot afford it.
     

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